The brutal drop breaks through the psychological $2.30 floor and erases recent gains as circulation dwarfs the historic XRPC debut.
news background
- XRP’s worst intraday drop in recent weeks coincided with a major industry milestone. It was the launch of Canary Capital’s XRPC, the first spot XRP ETF in the U.S., which officially went into effect on the Nasdaq as of 5:30 p.m. ET.
- The listing marks a turning point for institutional access to XRP, but its debut comes as the broader crypto market extends a medium-term downtrend.
- emotions are still fixed fear As the macro risk-off trend continues.
- Analysts, including FxPro’s Alex Kupczykevich, have warned that the crypto situation still resembles a “short-term rebound within a deep decline” and that the market structure is vulnerable to a deeper retracement.
- Large token flows reflect that caution, with XRP on-chain data showing 110.5 million tokens moved between unknown wallets in the hours before and after the outage, amplifying uncertainty during times of peak volatility.
Overview of price fluctuations
- XRP fell 7.3% from $2.48 to $2.30 in 24 hours of trading, cutting through the key support levels of $2.46, $2.40, and $2.36.
- The decline was a blistering $0.23, and the transaction amount was 157.9 million XRP, 46% above the 24-hour average.
- The core breakdown unfolded during a four-minute liquidation cascade from 04:32 to 04:35 UTC, where the price plummeted from $2.313 to $2.295 on 6.6 million XRP volume, 254% above baseline.
- The one-minute spike of 4.06 million at 04:32 marked the selling climax of the session. Liquidity temporarily evaporated as trading leveled off between 04:35 and 04:36, indicating either that order flow had stopped or that there was a severe book decline.
- Attempts to stabilize above $2.31 failed, and XRP settled into a narrow consolidation around $2.30 to $2.32.
technical analysis
This session confirmed a complete technical failure with obvious structural damage.
Support/Resistance:
• $2.29–$2.30 Becomes the main support after breaking through the psychological nadir
• Previous support $2.36, $2.40and $2.47 Now works as a stacked resistor
• Nullification of bulls requires decisive recovery of rights. $2.36
Volume profile:
• Total session volume 157.9 million (+46%) Check the distribution at educational institution level
• Show disassembly sequence 254% Hourly volume spike, typical liquidation-driven movement
• No meaningful recovery volumes were visible during post-crash consolidation.
Chart structure:
• Descending triangle support failed definitively, invalidating previous inversion setup
• A new lower range is formed between $2.29–$2.33
• The breakdown is consistent with the medium-term downward trend of broader crypto indexes
Momentum indicator:
• Oversold signals are emerging during the day, but no trend reversal is confirmed.
• Breakdown occurs below major EMA. 50D/200D cross remains bearish
What traders should pay attention to
XRP is currently at a pivotal inflection point.
• Holds $2.29 is essential — failure exposes a rapid transition to: $2.00–$2.20 demand zone
• Any recovery must be reused first $2.36 Before the bull regains technical control
• ETF inflows act as a catalyst for subsequent volatility. Initial XRPC volumes while the market is open will indicate whether financial institutions treat the listing as an accumulation opportunity or a liquidity event.
• On-chain flow 110.5M XRP Whale transfers remain a wildcard – currency inflows will underpin further downside risks
• Sentiment remains fragile across the majors. Beta-sensitive assets like XRP react disproportionately to broad market downturns
